HENDERSON, Nev., Feb. 18, 2005 (PRIMEZONE) -- International Star Inc. (Pink Sheets:ISRI) today announced that NASDAQ has approved plans for a 3:1 forward split of the company's common stock. As a result, shareholders of record will receive three shares for each share held as of the opening of the stock market on the effective date, Feb. 22, 2005. As of today total number of shares outstanding for ISRI is 64,428,741, after the 3:1 Forward Split total number of shares outstanding will be 193,286,223.
Effective Date/New Symbol
NASDAQ has accepted International Star Inc.'s preferred method of payment on ISRI stock certificates as "Payment Upon Surrender of Certificates." This means that current shareholders are not mandated to surrender their certificates, but they have that option. Current ISRI stock certificates displaying a CUSIP No. 460371 10 7 will automatically be valued at three times their face value as of the stock market's opening on Feb. 22, 2005. Surrendered certificates and all newly issued certificates will be issued with a new CUSIP No. 460371 20 6 and will be worth face value.
NASDAQ has also assigned a new symbol for International Star Inc. effective at opening of market on Feb. 22, 2005. The new symbol has been assigned as ILST, and will be found on the Pink Sheets listings.
Should International Star Inc. shareholders desire to surrender their current ISRI certificates they should contact the company's transfer agent, STALT Inc., at (650) 321-7111 for instructions for surrender.
About the Company
International Star Inc. is primarily engaged in the acquisition and exploration of precious metals mineral properties. Since 1998, the company has examined various mineral properties for precious metals and minerals and has acquired those the company believes may contain precious metals and minerals. The company's properties are located in Arizona. The company has not established that any of the properties contain reserves -- a reserve is that part of a mineral deposit which could be economically extracted or produced at the time of the reserve determination. International Star Inc. is in the process of performing further exploration to determine the feasibility of economically extracting the minerals the company believes to be present. Therefore, the company presently has no reserves.
Prospective investors should note carefully that the company is primarily engaged in the exploration of precious metals mineral properties. Even though the limited testing program on the Detrital Wash and Wikieup indicate that precious metals may exist on both properties, the company cannot assure prospective investors that an economically viable mineral deposit exists on either of the properties.
NOTE: This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results to differ materially from forecasted results.
HTML: http://newsroom.eworldwire.com/wr/021805/11493.htm
PDF: http://newsroom.eworldwire.com/pdf/021805/11493.pdf
ONLINE NEWSROOM: http://newsroom.eworldwire.com/2147.htm
VIDEO: http://newsroom.eworldwire.com/media_uploads/international_star_021805.wmv